IRS ANNOUNCES PCORI FEE

IRS Announces PCORI Fee

The IRS has announced that the Patient Centered Outcomes Research Institute (PCORI) Fee is $2.66 per average number of covered lives for plan years ending Oct. 1, 2020, through Sept. 30, 2021.

• For plan years ending Oct. 1, 2020, through Dec. 31, 2020, fees are due July 31, 2021.
• For plan years ending Jan. 1, 2021, through Sept. 30, 2021, fees are due July 31, 2022.

The previous fee was $2.54 per average number of covered lives for health benefit plans ending Oct. 1, 2019, through Sept. 30, 2020.

The institute, a nonprofit organization, uses the fee to fund research to compare different medical treatments and interventions to determine what treatments are most effective with the help of clinicians, purchasers, policymakers and patients. The institute will compile and distribute comparative clinical effectiveness research findings.